Pi Network experienced a sharp fall below a key value area, but quickly exhibited recovery signs backed by strong buyer demand.
Drop Below Value Area
The price of Pi Network took a steep hit by falling below the value area and reaching the macro swing low support. However, this flush was met with immediate demand, leading to a sharp intraday recovery and a close above critical support.
Recovery Indicators
The recent daily candle printed a prominent buying wick, confirming strong market demand. Closing above support suggests a return of market interest, positioning Pi Network in a potential reversal zone.
What to Expect Moving Forward
As long as Pi Network holds above the value area low and builds support on higher time frames, it remains poised for moves towards $0.65, and later potentially to $0.80.
Sustained closes above the value area indicate conditions for further growth. The active buying presence in the observed range supports a potential recovery.
